Increase credit score

[Anonymous]

Hello All -

I have recently joined the forum and am reading proactively. I was hoping if you all could comment on the below plan. I currently have a 670 EQ fico score. I am hoping to increase it towards 700 in a couple of months (thats the goal) so i can buy a home in the next coupld of months.

- Capital one - Charge off with a balance showing (totally affecting my Util. It isnt showing a 0 balance. a couple of CA tried to collect and whenever i DV, Cap1 sent statements etc directly and the same rpts would come through the CA). The balance is 1500 and the balance wont drop for another year. 6 months off from SOL ending. I personally want to pay it and get this over with but am confused.

Plan - Send a PFD ( i heard they never do that, so me paying it wont help right? But i think it needs to be paid before i get a loan approved)

- BOA card - Charge off with a 0 balance. No collection account on my CR either. Havent heard from any CA. This is the other Negative flag on my account

Plan - Verification? GW?

Midland - Paid a collection in 09 (was an idiot and didnt know that paying doesnt mean it makes my CR better). It also shows 120 days late. It doesnt show a negative flag on my file.

Plan - Send GW

I just have one other question. My wife recently opened an account with BOA (Credit card - 1000 limit) and i was put as an AU. I already have one card of my own with Orchard since 09 and AU on 4 accounts since 07. Do you think this is affecting negatively on my account? I was thinking of getting out of it as an AU if you guys think it might be reducing my score because of average history.

Thank in advance for your help. I really need to do this tomorrow. I would like to buy a house by June at the latest. Hoping for your help.

Regards,

[Booner72]

I would personally remove the AU because AU's only help if They have low utility and they are OLDER than any of your previous accounts (Or they are your only account, which this one isn't in your case).

I agree with everything else you have planned to do.  IMO, you are on the right track.

[improvingmycredit]

---

@Anonymous wrote:

Midland - Paid a collection in 09 (was an idiot and didn't know that paying doesn't mean it makes my CR better). It also shows 120 days late. It doesn't show a negative flag on my file.

Plan - Send GW

---

Hello!

I am sorry that I can't really help with answers to all of your questions but I may be of some assistance with Midland.

I had a collection with Midland.  I did the same and paid the agreed upon amount (40% of original balance) before I found the myFICO forums.  After doing some research here, these are the steps I followed to get the Midland baddie off my reports.

I called Midland and asked if they would remove the tradeline from my report "in my nicest, friendliest voice".  Of course I was told that they couldn't do that.  So I then asked if I disputed the tradeline with the CRAs would they kindly not respond and I was told no problem.  Basically, they could care less after you pay the account to respond anyway.

I then disputed the Midland account directly with the CRAs saying that the account was paid.  Every CRA removed the bad tradeline from Midland within 2 weeks.  Thanks Midland!  Anyway, I hope and think that they will do the same for you.  What do you have to lose?

Good luck and I wish you the best.

[Anonymous]

Both of you - Thank you. I am still confused about BOA. Not sure what to do with this card, I dont think i can GW because i havent paid any collection ( i dont think). So what options do i have - Any thoughts?

 "BOA card - Charge off with a 0 balance. No collection account on my CR either. Havent heard from any CA. This is the other Negative flag on my account"

[rckstrscott]

---

@Anonymous wrote:

Both of you - Thank you. I am still confused about BOA. Not sure what to do with this card, I dont think i can GW because i havent paid any collection ( i dont think). So what options do i have - Any thoughts?

 "BOA card - Charge off with a 0 balance. No collection account on my CR either. Havent heard from any CA. This is the other Negative flag on my account"

---

BOA will not be able to accept payment on the this debt. It is charged off, and has a zero dollar balance. They have sold it to a collection company.

Good will is really your only option with that account. Debt Validation is only for CA's, and disputing it through the CRAs will just have it come up as verified, and put a dispute comment which you will have to have removed anyway to get a mortgage.

-scott

[Anonymous]

Update – Emailed Midland a GW. The Exec to the CEO forwarded my email to “the appropriate department”. Now I will sit and wait. Lets see if I hear back from anyone.

[Anonymous]

Update to the Update -

I got an email stating that they dont discuss cases via email and that i should call to discuss this further. What do you guys think i should do? Call them?

[improvingmycredit]

Re-Post:

After doing some research here, these are the steps I followed to get the Midland baddie off my reports.

I called Midland and asked if they would remove the tradeline from my report "in my nicest, friendliest voice".  Of course I was told that they couldn't do that.  So I then asked if I disputed the tradeline with the CRAs would they kindly not respond and I was told no problem.  Basically, they could care less after you pay the account to respond anyway.

I then disputed the Midland account directly with the CRAs saying that the account was paid.  Every CRA removed the bad tradeline from Midland within 2 weeks.  Thanks Midland!  Anyway, I hope and think that they will do the same for you.  What do you have to lose?

Good luck and I wish you the best

[Anonymous]

I missed that. I think that account is already disputed by me. Can i re-dispute it?

[improvingmycredit]

Hey!

If the account is already in dispute, then no.  But if the dispute has come back verified or concluded, then you can re-dispute.  I would call Midland first.. explain that you wish you had asked them to delete the tradeline when you paid it but now, if I dispute this tradeline, would you please "not" respond to the dispute.  Because the CRAs can't confirm the tradeline, they will have to remove it from your file.  I must stress, never dispute a CR tradeline falsely.  When disputing this to the CRAs, use the "reason" code as "paid" for the dispute.  Hope this helps.